You Can Get Extra Money On Your Tax Return Next Year If You Live In Oregon

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Oregonians will get a nice bonus when they file their taxes for 2021.

Thanks to a nearly $1.9 billion tax surplus for the state, a "kicker" credit will be coming to Oregon taxpayers when they file next year, KATU reports. The Oregon Office of Economic Analysis says the credit will appear on personal state income taxes rather than a separate check.

You're eligible if you filed a 2020 tax return and had tax due before credits, according to the state. "Initial estimates suggest the median credit will be $420 and the average will be $850," reporters noted.

But how much will you get?

You can calculate how much your kicker credit is by using a calculator on the state's website.

"Even if you don't have a filing obligation for 2021, you still must file a 2021 tax return to claim your credit," according to state officials. "There will be detailed information on how to claim your credit in the 2021 Oregon personal income tax return instructions: Form OR-40 for full-year Oregon residents, Form OR-40-P for part-year residents, and Form OR-40-N for nonresidents. Composite and fiduciary-income tax return filers are also eligible."

If you have any debt owed to the state, your kicker can be used to pay it off. This applies to taxes due on child support, court fines, or school loans.

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